Thursday, November 4, 2010

What is Rich?

So apparently, in the Bay Area 250k is still middle class? If anyone is from the SF Bay, please, lemme know how this is.

I mean, hell in Georgia, you begin middle class at about 25k; and end it somewhere towards 100k. If you make 60k a year, your pretty set.

In this lady's argument, she makes the point that living expenses, housing, childcare, etc can firmly put 250k a year firmly in the realm of middle class. And unless the average starter home is worth close to a million, I just don't see this as realistic.

I do however, think that more stratification of 'higher' incomes needs to be done. There is a definite difference between 250,000 USD a year and 25,000,000 USD a year. I mean, whats a factor of two between friends? But I would like to reiterate, if your at the 250,000 USD level, you shouldn't expect a break when it comes to taxation, in my opinion.

I would also like to note that the brackets are cumulative. Every dollar you make below 250,000 will be taxed at its appropriated place. Every dollar above, will be taxed at the new level. So given this, I don't see any reason why the taxes on 250,000+ shouldn't go up.

Just Saying. I made 30k a year going to Iraq, and there were plenty of people who made 25k or less getting shot at over there.

Not for the Bay Area, but I'm from California in a place known as "The Valley". You definitely could not live there on 25k... if that's all you made, you'd live in a cardboard box. A normal one bedroom apartment will cost you about $3000 a month. Houses are easily in the millions and yeah... about 150k is "middle" class.